Singapore increases defence budget by 5.7%

SINGAPORE, -- Singapore's defence budget will increase by 5.7% in nominal terms to SGD13.1 billion (USD9.5 billion) for Fiscal Year (FY) 2015, according to figures published by the Ministry of Finance (MOF).

The increase will see defence expenditure increase as a proportion of GDP for the first time since 2009, rising from 3.2% of GDP in 2014 to 3.3% for 2015.

Speaking at the Committee of Supply Debate 2015, Defence Minister Ng Eng Hen said that while Singapore was closely monitoring the significant growth in defence spending that had taken place in Asia over the last decade, the country would not alter its policy of gradual increases to military spending.

The Republic of Singapore Air Force operates 74 F-16 Fighting Falcons, all of which are advanced F-16C/D Block 52 aircraft.